Piramal Finance Limited has informed the Exchange about upgrade in Long-Term Bank Facilities and Debentures rating to ICRA AA+; Stable from ICRA AA; Stable by ICRA Limited.
PIRAMALFIN · price
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Piramal Finance Limited has received a credit rating upgrade from ICRA, moving its long-term bank facilities and debentures rating from AA (Stable) to AA+ (Stable). The upgrade covers non-convertible debentures worth Rs. 27,790 crore, retail NCDs of Rs. 4,168.78 crore, subordinated bonds of Rs. 1,500 crore, market-linked debentures of Rs. 500 crore, and bank lines of Rs. 9,550 crore. Short-term facilities were reaffirmed at the highest A1+ level. ICRA cited the company's strong business, financial, and risk profile as an Upper Layer NBFC. This is the fourth rating agency action in favour of the company in 2026, following similar upgrades from CRISIL, S&P Global, and CARE Ratings earlier in the year.
This is a positive development for shareholders and debt investors, as the upgrade to AA+ reflects stronger creditworthiness and may help Piramal Finance raise funds at lower borrowing costs. The consistent upgrades across multiple rating agencies signal improved confidence in the company's financial health and risk management.